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Par Funding cofounder Joseph LaForte released on $2.5 million bond, placed under house arrest

A federal judge ordered LaForte released to await his trial on firearms charges after family and friends put up their houses for his bond.

In 2005, Joseph W. LaForte is escorted by police on Long Island after his arrest in a $14 million financial fraud. After serving prison time in that case and another, he went on to found Par Funding in Philadelphia. He now faces gun charges.
In 2005, Joseph W. LaForte is escorted by police on Long Island after his arrest in a $14 million financial fraud. After serving prison time in that case and another, he went on to found Par Funding in Philadelphia. He now faces gun charges.Read moreELLIS KAPLAN / New York Post